The president's comments come as the prices of both crude oil and gasoline surge amid the war with Iran.
Ed Morse, Senior Adviser at Hartree Partners, talks about why oil prices are rising faster than gasoline prices. Pump prices are now at their highest level at any time under President Donald Trump. (Source: Bloomberg)
The issue of affordability has loomed over the congressional midterm elections.
Amid the unprecedented spike in gas prices in the United States sparked by the U.S. attack on Iran, President Donald Trump took to social media Sunday to insist that gas price hikes were “a very small price to pay,” and condemned critics as “fools.”“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a…
Senate Democratic Leader Chuck Schumer (N.Y.) on Sunday called on President Trump to immediately release oil from the Strategic Petroleum Reserve amid rising oil and gas prices caused by the military conflict in Iran. Oil prices jumped to nearly $120 a barrel before dropping some on Monday as missile strikes on Iran and Tehran’s retaliatory…
President Donald Trump and members of his administration are attempting to defuse concerns over skyrocketing energy costs. The problem may, however, get a whole lot worse before getting better.Roughly one-fifth of the world's oil normally transits the Strait of Hormuz, a stretch of water between Iran and Oman that links the Persian Gulf with the Gulf of…
War-risk insurance costs surge as conflict threatens oil shipments through Strait of Hormuz, potentially driving up gas prices for American consumers.
